Insider Economy Cyprus annual inflation rate at -0.6% in November 2020

Cyprus annual inflation rate at -0.6% in November 2020

Inflation rate in Cyprus remained in negative territory for the eighth consecutive month in November with the Consumer Price Index (CPI) declining by an annual 0.6%.

According to data published by the Statistical Service of Cyprus (Cystat), for the period of January – November the CPI declined by 0.6%.

However, after peaking in June with -1.99%, the inflation rate shows signs of improvement converging towards the average rate of inflation.

By economic origin, the largest annual changes were registered in Electricity and Petroleum products with percentages of -17.5% and -11.3% respectively.

Compared to October 2020, the largest change was observed in Agricultural goods with a percentage of 5.3%, Cystat added.

(CNA)

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